Green/Hybrid Car Leases Gaining In Popularity

A company focusing on getting out of automotive leases revealed hybrids and green vehicles leases are rising in popularity.

Swapalease.com, describing itself as the nation’s largest car lease marketplace, offers insight into which car and truck lease segments are in demand based on year-over-year changes in inventory listings.

Cars in the Green/Hybrid segment led all categories in September, rising 66.7 percent from year-ago levels.

Swapalease.com said car manufacturers have rolled out more car lease options in the Green/Hybrid category over the last few years, and consumers have responded with more interest. Manufacturers and dealers have also introduced more attractive lease programs on these vehicles, which helps to explain the rise in transfer activity for these vehicles.

Vans lead all segments on the decline with a 37.5 percent decline from year-ago levels. Convertibles are next showing a 7.1 percent decline in the inventory/transfer levels, although this segment usually sees negative shifts this time of year due to seasonality patterns. Interestingly enough, trucks are third lowest with just a 4.8% change from a year ago, despite higher overall interest in consumer shopping for trucks.

“Since the recession we’ve seen a steady rise in the number of Green/Hybrid vehicles in the Swapalease.com marketplace,” said Scot Hall, Executive Vice President of Swapalease.com. “We anticipate this trend to continue in the near term, particularly with the strong emphasis on lease deals for these eco-friendly vehicles.”

The following is the complete picture of all segment changes comparing September 2012 with 2013.

Segment

Green/Hybrid                         66.7%

Sport                                       45.0%

Wagon                                    39.0%

Coupe                                     25.4%

Compact                                 11.7%

Sedan                                      6.2%

SUV/Crossover                    4.8%

Truck                                      4.8%

Convertible                            -7.1%

Van                                         -37.5%

Swapalease.com describes itself as an online marketplace that allows drivers to list their vehicle leases for the purpose of finding another individual to take over the remaining portion of the contract. The company said it can identify vehicle leases in demand by measuring the amount of listings and transfer activity compared with previous months and years.